Natural Gas End of Day Summary: Henry Hub Finishes Higher

Henry Hub reversed its earlier gains - after surging during US hours - to be trading higher on the day. Colder weather forecasts in the US were offsetting the global fall in gas prices. A force majeure was also declared at the Blue Water compressor station.

• US Natgas FEB 24 up 3% at 2.98$/mmbtu
• US Natgas JUL 24 down -0.2% at 2.87$/mmbtu
• Domestic natural gas demand is holding above normal at 101.8bcf/d according to Bloomberg but down from recent highs of over 106bcf/d seen late last week.
• Cold weather is spreading across the US from the West this week with temperatures across the US forecast below normal in the 6-14 day period. The coldest relative to normal are expected in central areas.
• Feedgas supplies to US LNG export terminals remain strong and relatively unchanged from last week up at 14.9bcf/d today according to Bloomberg.
• The Everett import terminal in Massachusetts took an LNG cargo from Trinidad during the weekend, according to Reuters.
• Egypt's Damietta LNG plant has resumed loadings for the first time since July 2023, according to ICIS LNG Edge.
• Shell Plc signed a 20-year deal to buy 2m metric tons a year of LNG from a Canadian floating export facility for supply to Asian markets according to Bloomberg.